CoinShares’ AUM Tops $6B Following Valkyrie ETF Acquisition

Digital asset investment firm CoinShares has reported billions in assets under management (AUM) and a record surge in revenue, gains, and other income in its Q1 earnings report.

The impressive results come after CoinShares acquired Valkyrie’s ETF business on March 12, inheriting the fund’s $530M in assets under management. 

This acquisition enhanced CoinShares’ global presence and operational footprint across the Atlantic.

Record Q1 Earnings

According to the report published on May 14, CoinShares witnessed a 216% year-over-year surge in revenue, gains, and other income in the first quarter of 2024. 

The earnings totaled £43.9 million ($55 million), up from £13.9 million ($17.4 million) during the same period last year.

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The company’s adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) stood at £34.2 million ($42.9 million), up over fourfold compared to 2023 Q1 results.

Notably, CoinShares’ total comprehensive income grew from £2.9 million ($3.6 million) in 2023 Q1 to £34.1 million ($42.8 million) in 2021 Q1.

$6B In AUM

The firm’s AUM topped £4.77 billion ($6 billion), with £3.82 billion ($4.8 billion) held on its balance sheet relating to ETFs issued by CoinShares Digital Securities Limited and XBT Provider. 

The remaining £0.95 billion ($1.2 billion) is held in the newly acquired funds from Valkyrie and the BLOCK index.

CoinShares CEO Jean-Marie Mognetti lauded the report, noting that it reflected its commitment to growth and excellence.

“This quarter reflects not only our robust financial performance but also highlights our enhanced strategic growth capabilities, exemplified by the successful acquisition of Valkyrie’s ETF business in March 2024,” Mognetti said in a statement.  

Per the statement, 2021 Q1 represented CoinShares’ “strongest quarter ever.”

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